When transactions are entered in Bank Rec and posted to General Ledger, it would be helpful if you had an option in Bank Code Maintenance to post transactions in detail to General Ledger for the Bank's Cash Account. For example, if you entered multiple adjustment entries in Bank Rec, when running the register and updating it, instead of one summary posting to the Bank's Cash Account each transaction would post in detail to the cash account. Additionally, it would be beneficial if each transaction posted to GL using the Date entered with the Bank Rec transaction -- similar to how Cash Receipts posts by Deposit Date.
by: Jane S. | over a year ago | Financial Management
Comments
Exactly! And the description needs to post correctly for each entry...it does in the desginated account you are allowed to allocate; however every entry in the cash account reads the same..."Bank Reconciliation Transaction Register." When you are dealing with similar amounts...there is no way to distiguish one transaction from the other.
In addition, each line that is entered in the Bank Reconciliation "Dep/Adjust" tab should be posted as separate lines to the General Ledger, including the cash account that should have a separate offsetting entry. I have a situation, where we have a ZBA cash account and if the net transaction are zero for the day for the cash account, then NO entry at all is being posted.
You should also change this comment section so you can add an attachment or print screen.
I agree! As well as with Cathy's suggestion. The cash account needs to show the comments detail of the transaction, and not just "Bank Reconciliation Transaction Register." I'm having to post in the GL and the Bank Rec separately just to get the detail to post in my GL Detail Report.